Question: Gemini Technologies has two product lines: lasers and integrated circuits. During the current month, the two product lines reported the following results: Lasers Circuits Sales

Gemini Technologies has two product lines: lasers and integrated circuits. During the current month, the two product lines reported the following results:

Lasers Circuits
Sales $ 560,000 $

980,000

Variable costs (as a percentage of sales) 40 % 60 %
Traceable fixed costs $ 200,000 $ 250,000

In addition, fixed costs common to both product lines amounted to $80,000.

Prepare an income statement showing percentages as well as dollar amounts. Conclude your statement with income from operations for the business and with the responsibility margin for each product line. (Input all numbers as positive values. Round your percentage answers to 2 decimal place. Omit the "$" and "%" signs in your response.)

GEMINI TECHNOLOGIES Responsibility Income Statement For the Current Month
Entire Company Laser Line Integrated Circuits Line
Dollars Percent Dollars Percent Dollars Percent
(Click to select)SalesFixed costsFixed costs traceable to product linesSales revenueProduct responsibility margin $ $ $
(Click to select)Product responsibility marginFixed costsFixed costs traceable to product linesSales revenueVariable costs
(Click to select)Contribution marginGross margin $ $ $
(Click to select)Variable costs traceable to product linesSalesProduct responsibility marginFixed costs traceable to product linesSales revenue $ $
Product responsibility margin $ $ $
(Click to select)Fixed costs traceable to product linesCommon fixed costsCommon variable costsSales revenueSales
Income from operations $

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